[FARSUXCPA]

Hi guys just wanted to open a discussion on the strategy for success on the CPA exams you employed to pass each part for people aspire to pass those same parts. I figured it will help folks if you can give them your background, what sections you passed, what materials you used, how many MCQs you tackled, time commitment for studying each section, how confident you were going into the exam, your experience with the exams (remember non-disclosure), your test taking strategies, what motivated you to keep going, your advice and story, and any additional information not prohibited by AICPA.

DONE!

[Trevor]

Sure, Hey guys…

I grew up in a town of about 2500 people, most of which had never been to college. Basically a farm town in the northern most part of Vermont. I attended Roger Williams University in RI, I now have a BS in Accounting and a minor in Finance. If I was to do it over I would have been a finance major… My senior year I was selected by a professor (10 students chosen) to manage a portfolio for the school. We were part of a nation wide competition called RISE. We finished 2nd in the country for our objective to Villinova… I graduated in 2009 and right out of school went to work for a public accounting company in the Burlington Area of Vermont. I decided last November to apply for the CPA, I got accepted and filed for my first NTS – BEC. I have never studied much, never really did HW in college… I took a similar approach in my first exam, watched the Yaeger videos, did some MCQ's and called it good… Well it wasn't lol got a 73, which I found out 4 days before I had to take my AUD exam. I had only put in about 20hrs to this point in AUD (some family stuff happened….) so I had a basically cram weekend. Finished w/maybe 50hrs or so… Passed with a 75! then was the retake for BEC – I slacked off again all through June going to see college friends, love NASCAR so we went to the races, and also there was July 4th weekend… I did not study much this time around, but was suprised by an 81! I took a little different approach to FAR – probably put in about 90hrs… not sure what the outcome will be. For all of the exams I was never fully confident, never thought I knew enough of the little stuff (especially FAR). In all I have probably done 1200 MCQ's (400/section) and have put in roughly 200 hrs. I do not really have a test taking strategy other than time… If I feel short on time I will do the WC parts first, also I randomly selected answers on my 2nd FAR simulation as time was running out… I would say that my motivation comes from myself, I have always wanted to go somewhere in life – most of my family has not… Also I try to think of my grandfather (passed from cancer at 69), I know that he would be proud of what I have accomplished or will accomplish. That's my short story, I would say if you have noone to root you on – you always have you in your corner! and that should be the biggest motivator. You can't look at the BONUS you'll get if you pass or how much more money you'll make… life is FAR (lol) too short for that… if you are not happy at the end of the day, I do not care how many certifications you have. DO IT FOR YOURSELF FIRST!, then feel the happiness in sharing it with everyone…

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[geaux11]

Might as well give my experience as well:

I graduated high school in 2004 from a small school in NW Iowa (46 students in my graduating class). I accepted a baseball scholarship to the University of Northern Iowa. At this point, I did not even contemplate having an Accounting major. I didn't think I had the time to both play baseball and focus on accounting. I ended up transferring to a JUCO for a year and then played ball at the University of Arkansas-Little Rock. Here, I tore a bunch of stuff in my shoulder and hung up the spikes. I transferred back to UNI and decided to become an Accounting major (my “senior” year of college). Ha.

I graduated from UNI in December of 2009 with degrees in Accounting and Economics. In the spring of 2010, I enrolled in a post-graduate CPA Review study program at UNI. Here we spent 3 class hours per week on AUD, FAR, and REG. BEC sections were randomly reviewed in AUD, FAR, and REG. Most of my classmates took the exams in May; however, I had to wait to apply for my NTS in May, so I couldn't sit until July/Aug.

I got married in May and didn't pick up a book again until July 6th. AUD was my first exam, and I went at it hard. From July 6-13 I put in about 45 hours and worked over 1,800 multiple choice (Wiley and Gleim Prep Software). I walked out of the exam pretty confident.

Next was REG and I spent a majority of my time focusing on Biz Law. I put in about 55 hours from July 15-21. I didn't do nearly as many MC questions (probably 700 or so). I have always been pretty good at Tax stuff so I didn't focus too much. I walked out of the exam discouraged because I KNOW I completely bombed a part of a simulation. If this happens, don't let it discourage you. I ended up just fine.

I spent about 60 hours on BEC and did every multiple choice in the Wiley book (about 1,200). BEC is such a crapshoot on what information you will be tested on. I felt like I got completely dominated by this exam. Definitely discouraged. But, once again, I ended up fine.

Lastly, I took FAR. I've always liked Financial Accounting, but was continually overwhelmed by the amount of material while studying. I put in about 60 hours of studying from Aug 4-11 and did approximately 1,600 M/C. I walked out of the test center feeling more confident than I did about AUD.

Keep in mind, I did NOT have to work while I was doing my studying this summer. I was able to put 100% attention towards the exams. Some may think I “overstudied” but I wouldn't do it any other way. I did NOT want to have to go through this experience again. In my opinion, the amount of time and effort I put into the exams was well worth it. Seeing those passing scores was one of the best feelings of my life!

AUD: 95 (7/14/10)
REG: 94 (7/22/10)
BEC: 87 (7/29/10)
FAR: 95 (8/12/10)

[financeguy]

Before I give my advice, I just don't want people to get confused: I studied hard, I didn't slack, however:

I read some people's post about how they barely see their significant other, or their kids never see them, or how they do absolutely nothing but study and haven't had time for (fill in the blank of whatever it is you do for fun, etc).

My advice is that you guys need some better balance in your life. I am in no way saying to slack, but I am saying that you should not neglect all this other stuff about your life. I think that it is definitely possible to overstudy and you can get to a point where your studying is having a negative effect on you.

I have been studying since november and just took my last exam on Monday. I studied a lot. However I still did many things that I like to do. Yes I did cut things out, and yes I did pass up on things to do, but my entire life was not studying for this exam. Yes, I did dedicate a lot of time to it, but again, I think it is very important to have balance in your life.

I remember reading a thread of what people are going to do once they are done w/ the exam, and just about everything that people listed…I never gave that stuff up. I think if you keep certain things in your life, it helps you keep your normal routine and probably also helps keep you less stressed about this exam. Just my perspective on things.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[geaux11]

I agree. For example, from Aug 4-11 (8 Days) I studied 60 out of 192 possible hours. I studied A LOT but I still had time for other stuff. Otherwise, you will go absolutely crazy and will not do yourself or anyone around you any good.

AUD: 95 (7/14/10)
REG: 94 (7/22/10)
BEC: 87 (7/29/10)
FAR: 95 (8/12/10)

[Trevor]

I agree with the fact that you need balance, I may have been a little too far on the social side. Honestly though I wouldn't change what I do… I would be a “slacker” (do not feel I studied a ton) I think in financeguy's definition, and thats fine with me. I will say though that those hours I did put in were solid study hours… Intensive notes, the MCQ's that I did, I broke them down, example if it was a theory question I would give reasoning for the answers that were wrong, then look in the Wiley answers and see if my reasoning was right. Also I did a lot of reading out of the book…

BEC: 73,81(7/6/2010); AUD: 75(5/24/2010); FAR: 76(8/31/2010); REG: 77 (10/18/2010) - DONE!!!!

[whitesoxfancpa]

Graduated high school in 2003.

Graduated college with a finance degree in 2007.

Graduated with master's in accounting in 2009.

I am using Becker.

My method for studying any particular exam part is as follows:

Generally I have 5-6 study sessions for each Becker chapter. Each lasts about 3 hours. When viewing lectures, I view them one part at a time, then do the MC questions for that part right away. Each lecture and its corresponding questions takes me two study sessions to get through the first time.

Study session #1: Watch the lecture, work MC questions

Study session #2: Watch the lecture, work MC questions.

(I used to to study session #1 watch whole lecture, study session #2 do all questions, but I was forgetting things too quickly, so I'd rather do the questions right after the corresponding part of the lecture.)

Study session #3: Read first half of chapter, work those questions. For questions I get wrong, learn why they're wrong before moving on.

Study session #4: Read second half of chapter, work those questions. For questions I get wrong, learn why it's wrong before moving on.

Study session #5: Review flashcards, work supplemental questions, and simulation

Might go into study session #6 if I am having trouble or feel I need to review a bit more before moving on.

I do this for each section, then in my final review, I skim the chapter again and re-work the questions, typically taking 2 study sessions to do this for each chapter.

AUD 96 FAR 95 REG 94 BEC 88

[Anonymous]

Balance is always critical, and as long as you maintain balance in your life, there is no such thing as over studying.

Background:

I graduated high school in 2006 and almost decided not to go to college because I believed at the time that it would be a whole lot of work for nothing. Ultimately, I attended college and on day 1 decided that I would major in accounting. I made this decision on a whim when looking at the college registration paper and checking the box titled “Accounting” as my major. Maybe at the time I was just too lazy to read the rest of it so I just picked what I saw on the top of list. It's funny to think that that one choice has led me down this path.

CPA Exam:

I used the Becker Fast Pass program where from about June 5th – July 20th, the instructors went over each of the four sections, one chapter a day, four days a week, four hours each day. Of course, the preparation didn't stop after that four hour lecture. Each day after the lecture, I went home and did all of the multiple choice questions (about 120 each day) for that chapter. Over the weekend, I would review the week's work and focus on things I had difficulty with.

Upon completion of the Becker Fast Pass program, I had a little over a week to study for each section as indicated in my signature below. For those unfamiliar with Becker, each section is broken down as follows: 5 (BEC/AUD), 7 (REG), 9 (FAR) chapters. My goal was to study one chapter a day. One chapter a day means:

(1) Spend 1-2 hours reviewing the textbook that the instructor lectured on in class, paying special attention to any notes/highlights made in the textbook from when I attended the live lecture.

(2) Prepare my own outline of the key points in the chapter (my outlines were about 5-10 pages per chapter on size 22 font on yellow office paper, I believe using that format enhances your ability to retain the info).

(3) Doing all of the multiple choice questions and writing down any problems that gave me trouble or anything that may not be obvious in my head already (even if I got the question right the first time).

(4) Read the entire outline and notes on the problems, which is about 15 pages total at this point in super big font.

(5) Read the flashcards that I purchased through Becker.

The day before my exam, I would take one practice test and review all of my outlines. I also reviewed the Becker Final Review booklet which really wasn't necessary. Morning of the exam, I would read all of my outlines again, eat a huge breakfast, and take the test.

The Aftermath:

There was another member of this forum who stated something along the lines of “one thing's for sure, there's no telling how you scored based on how you felt coming out of the exam.” I found that to be very true. I still haven't received two my scores yet, but after receiving my first two scores, I'm confident that at a minimum I will pass them.

I accepted a full time offer in early May of this year. One month later I went to the partner and asked for three months off to study. If I did not have that time off, I wouldn't have been able to properly study for the exam. To address what I said earlier, there is no such thing as over studying, provided you maintain balance in your life. I balanced my studying with staying in touch with friends, going to the gym, and walking my dog. If you still believe there is such a thing as over studying, just imagine spending 50 hours studying for a section when the recommended time is 70 hours (numbers made up). If you fail and have to retake that section, you will put in way more than just 20 hours in an attempt to pass; you may put in an additional 50 hours. Do it right the first time, do not slack off on studying if you can control that. You'll know you're ready when you ask yourself “what more could I study?”

I've written a lot, I hope someone will find this information useful in preparing for their exam.

[geaux11]

@Unreal — You and I may be the same person (except you scored higher than me in REG, lol!). Great post.

AUD: 95 (7/14/10)
REG: 94 (7/22/10)
BEC: 87 (7/29/10)
FAR: 95 (8/12/10)

[financeguy]

When I say overstudying…it is all applicable on a case by case basis. What may take 1 person 50 hours to study may take another person 25 hours to study. Both of them pass. The person who studied 50 hours may think they over studied, because they took twice as long as the other person. But that may not be the case, as it takes each person a different amount of time to study.

I see people who claim to study for a single exam for months. They say they do absolutely nothing but work and study. They don't see their friends and family, don't do anything fun, etc. Yes, I believe that person over studied.

As in economics, there is a point of diminishing return. I personally believe it can apply to everything in life. This is just my own personal philosophy on life and this exam. What works for me, won't necessarily work for someone else, and vice versa.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[almostdone]

I graduated from high school in 2006, college in May 2010.

I had a month off before I started my review course with Philadelphia CPA Review. It's a regional company, but they now provide online classes for students everywhere. I attended most of the classes (had to watch a few online) and did all of the homework Qs – approximately 4000 total. They use Bisk books & software. For some sections, I did all the MC twice. I put in 400 hours total for all parts as follows (including class time):

AUD: 80

FAR: 145

BEC:95

REG: 80

I scheduled all of my parts 1-2 weeks after the conclusion of the class, so I really crammed/studied/focused on that part for some time. Until that point, I mostly just kept up with the homework MC.

I had breaks but didn't do too much from June-August… that probably is best for me though and hopefully I won't have to look at any of it again! Actually, my hours average out to 35-40 study hours per week (including classes). I've been told too many time my professors/alumni/co-workers to get it done ASAP, and I always do what I'm supposed to. ALSO, my job in a regional public accounting firm doesn't start until October.

PS. I highly suggest checking out the review course – it is fast-paced, but interesting and sticks with you. The instructors are regarded as some of the best in the country.

Philadelphia CPA Review/Bisk
AUD 7/6/10: 84 | FAR 7/19/10: 91 | BEC 8/16/10: 80 | REG 08/25/10: 99

[viper71506]

I graduatd college in 2003 with a BS in accounting and started with a public accounting firm that summer. In 2006 I graduated with my MBA and took two parts of the CPA while working for the government. I wasn't motivated enough at that time, passed REG and failed BEC and decided not to take any more parts and use the money to build my house.

Last year in November after my daughter was born in October, I now got the drive to get the CPA. I bought the BISK CPA review books. I passed REG, FAR and AUD but failed BEC using there self-study books. For BEC, I bought Wiley and this time knocked it out of the park. It was tough with Family as you have a new daughter to take care of and your working all the time. As soon as she would go to bed, I would study at night. My wife would be fast asleep by the time I went to bed. The thing I learned this time was the drive was there and as long as you have the drive, you will pass. If you don't have the drive, then you are just wasting your time and your money

As Vince Lombardi says

I firmly believe that any man's finest hour, the greatest fulfillment of all that he holds dear, is that moment when he has worked his heart out in a good cause and lies exhausted on the field of battle – victorious.

Reg - 89, FAR - 79, BEC -74, 82, Aud -85

[FARSUXCPA]

I wanted to hold my reservations until I received my FAR results. Here's my two cents.

Just some background information, I attended a good preparatory school some 15 years ago and then did undergrad at U Mich Ann Arbor. At my Master's program at a private local school in NJ, I was the alternating top scorer in accounting and tax classes. Back in the heydays of high school, I memorized the entire 500 American history textbook cover to cover word for word by writing it out once or twice for my cumulative final. I don't think I have that ability anymore. Despite it all, I found the CPA exams to be challenging. I studied my *** off. I put in many hours – did not keep track.

Generally I used Becker and supplemented with Wiley questions. I used 2008 Becker material and 2010 Wiley questions – read the Becker text, solved nearly all questions in Becker and Wiley once to four times. Made flashcards for all parts except FAR – I didn't have time; didn't read 2 of the FAR chapters – again no time. I felt very well prepared and confident for BEC, AUD, and REG going into the exams, and in my mind I said bring it! going into those exams, but I only felt I was 75%-80% ready for FAR. I wanted to put FAR off (reschedule it) so I can prepare more for it but that meant sitting for it in the next window and I wanted to end it; I viewed it as a practice test if anything. Ironically, I pulled off a 96. I did give it everything I got on exam day. This is the basic summary of the 4 tests.

BEC

Read Becker text 2008, did all of the passmaster questions and Wiley questions 2 to 3 times, made flash questions. Felt I did great – came out with 87.

REG

Read Becker text and Final Review, did all of the passmaster questions and Wiley questions 1 to 2 times, made flash cards, did all of Wiley sims. Felt I nailed it during MCQ testlets (was easy even what seemed like difficult questions), but when it came to simulations I wasn't so sure anymore. I spent over 1 hour on the first sim and only had 17 minutes on the second sim but did the WC and just put in some numbers but left most of the second sim tabs blank. Thought I failed it. Result: 88.

AUD

Same preparation as above but did the questions 3-4 times. The questions were getting difficult. Wasn't sure on 13 questions; I found out later I probably got at least 10 of them correct. Sims were not what I expected. I thought I passed but wasn't sure because so many people who thought they passed said they ended up failing. Result: 95

FAR

Same preparation as above but no flash cards and didn't read 2 of the chapters. Was so burnt out going into the exam for 2-3 seconds didn't even realize I pressed the start button. Questions got really diffucult but I ended up guessing on maybe 5 of them. Sims again were not what I expected. I had a general idea on what they were asking but I knew the answers were not entirely correct. I finished the sims with the exception of one WC which was on a topic I didn't study so I virtually left it blank. It's a practice test I said to myself. Result: 96

As someone pointed out the key to passing the CPA exams at least for 2010 is doing the multiple choice questions. I did over 10,000 multiple choice questions at least once, did all of the Wiley practice simulations for Reg, and did some of Becker and Wiley practice simulations for FAR and AUD. I did the 10,000+ MCQ 1 to 4 times until I was able to answer most of the questions with accuracy and speed. I know it was an overkill but I was able to do 700 AUD questions in one day and 450 FAR questions in a day though it's true I practically had the answers memorized. I wanted to be able to instantly solve some of the easier questions on the CPA exam so I would have time for the more difficult questions and simulations. Here are some of my other theories and thoughts that may help you on your CPA exams. Caveat: these theories/thoughts may not be true or may not apply to your particular exam. Use at your own risk and judgment.

Theory 1. Since CPA exams are supposed to test the fundamentals, many/most theory questions should have an answer that is fundamental and/or important.

Opinion 2. Make sure you are ready mentally and physically on exam day. Have a clear mind. This is what you prepared for. What good is preparation if you can't perform on exam day? Be ready to put in everything you got!

Opinion 3. Since time is a critical element in the CPA exams, you should build speed in answering the questions.

Theory 4. Since AICPA knows time is limited, they can only ask so many questions with multiple step calculations.

Theory 5 Building on theory 4, If it's a long question, it is possible that the way to get to the answer is simple/short.

Opinion 6 Do the easy questions or short questions first especially for FAR and come back to the longer questions.

Opinion 7 Like I said above, time management and speed is very significant factor. Formulate a time mangement strategy and stick to it.

Opinion 8 Like most people know since WC counts for 10% try to knock this one out first on the sims. (obviously does not apply to BEC)

Theory 9 Since the CPA exams have a statistically sticky 47-51% pass rate, it is probably curved to allow about 50% of test takers to pass. I was thinking I only have to “beat the other guy” as I went into take FAR. Though I am a team player, this mindset helped me get through the test without being frustrated when I came across a question I didn't know. I said if I don't know this then the other takers probably don't know it either, took an educated guess and moved on. If my time management allowed it I may come back to the question.

Opinion 10 Try to read the last statement of the question first before reading the question from the beginning.

Approach 11 If AICPA specs on FAR is correct, NPO and GOVT ACCT can count for a significant part of the grade so I made sure I had this down. I didn't recall much of GOVT ACCT and never studied NPO as probably is the case with most of you but in reality they are probably the easiest chapters. Before taking the test, my theory was possibly this could put me over the top if AICPA guidelines were correct.

Opinion 12 Do not freak out before or during the test. Just think all I have to do is “beat the other guy,” or “I prepared enough” or any other tactic that may help you to this regard. As said above, if you don't know a question, guess, and move on. Time is of the essence.

Opinion 13 Becker PM questions were more difficult than actual.

Opinion 14 You should try to formulate an answer as you read the question, or structure an approach as you read the question.

Approach 15 Visualize before the test that you will do well and how you will time manage each part of the test – MCQ testlets, simulations, WC.

Opinion 16 As many people commented know everything especially for FAR.

Opinion 17 isregarding my opinions and theories above try to come up with your opinions, theories, and approaches-

whatever floats your boat.

I may have overanalyzed here or some of the theories/opinions may be completely baloney and I know can be arguable. I feel like I can write a thesis on this. There are other theories and opinions I can't recall right now. I'll share with you when they come back to me.

It has been a long and difficult journey. I hope the above theories/opinions end up helping some of you. Best of luck to all of you. Check in with you guys later.

Would anyone else like to share?

DONE!

[Author]

Replies